Reminder Sawdin post:
To Michelex Shareholders:
As soon as possible, we will provide updated financial information for Michelex. However, please note that our ability to do so is dependent upon the prompt delivery of accurate information from Messrs. Lacle, Syed and Saleem. We are taking all necessary actions so that we may receive said information as soon as possible.
At this time, we do not know the full extent of the damage that has been inflicted upon Michelex and its shareholders. We estimate that $150,000+ in unpaid bills have accrued since Messrs. Lacle, Syed and Saleem became involved with Michelex. In addition, it is very likely that contractual obligations may have been entered into that were not in the best interest of Michelex shareholders.
Although there are major obstacles that must be overcome, and as such there are no guarantees of success, the new Board of Directors will do everything possible to save Michelex and create a transparent and profitable company.
